Cryptocurrency Scholar: On October 28, Bitcoin (BTC) has a long lower shadow, low volume, golden cross, and TD moving upwards: multiple signals overlapping, can this rebound really hold?
At this 80,000 position, both bulls and bears have their reasons; it just depends on who breaks first. I often say: trading is not about who is smarter, it's about who survives longer. You see those who post screenshots of hundred times contracts every day, nine out of ten of them will lose their capital in the next liquidation. Tonight's 4-hour closing line is crucial; whether it can stabilize above 80,655's EMA30 is a touchstone for determining the authenticity of the rebound. Don't keep staring at the market while scrolling on your phone; the more you look, the itchier your hands get, and itchy hands lead to losses. Set your stop-loss, close the software, go have a nice meal, and the market will naturally give you an answer tomorrow morning.
From the daily candlestick pattern, after crashing down from the high point of 87,385, the daily line has been moving below the EMA15 and EMA30; these two moving averages are now pressing at 81,561 and 81,769, which is a hurdle the bulls cannot surpass in the short term. The good news is that the price has steadied at EMA60's 80,063, with support at 79,755; this area is a strong support level on the daily scale. The green bars on the MACD are still expanding, indicating that the bearish momentum on the daily scale hasn't been fully released; comprehensive judgment: the daily is slightly bearish and oscillating, but the 80,000 integer level cannot be effectively broken down; if it breaks, we need to watch 79,178 or even EMA90's 78,188.
The four-hour candlestick shows the second decent bullish line rebounding from the previous low of 79,178. A few technical signals are worth noting: First, the MACD's DIF crosses above the DEA, which is a preliminary golden cross at the four-hour level; second, TD just counted 1 on its ninth upward turn, indicating that the short-term rebound structure has just started, not at the end; third, the price has returned above EMA15's 80,252 and BOLL's middle band at 80,265. But don't celebrate too early; above, EMA30 at 80,655, EMA60 at 81,238, EMA90 at 81,515, and EMA120 at 81,821, four moving averages act like four walls stacked in the range of 80,600 to 81,800, making every step upward an opportunity for selling pressure. The BOLL upper band is at 81,015, which is the first target for the short term.
Short-term references:
For northbound, from 80,100 to 79,600 is blocked, stop loss 500 points, target 80,800 to 81,500.
For southbound, from 81,500 to 82,000 is stagnant, stop loss 500 points, target 80,500 to 79,500.
Specific operations depend on real-time market data. For more detailed information, you can consult the author. The publication of the article has a delay; it is advised for reference only, and risks are to be borne by oneself.
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